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International Edition

Gibson Dunn, Debevoise advise as Vivendi sells $2bn NBCU stake to GE

Gibson Dunn & Crutcher and Debevoise & Plimpton have taken roles as French media conglomerate Vivendi has sold a portion of its stake in NBC Universal to General Electric (GE) for $2bn (£1.3bn), reports AmLaw Daily.
2 minute read

International Edition

A&O wins role alongside elite US duo on €1.75bn pharma takeover bid

Allen & Overy (A&O) is advising on a €1.75bn (£1.5bn) M&A deal which could see pharma giant Johnson & Johnson seal the takeover of Dutch vaccine maker Crucell. Johnson & Johnson already holds an 18% stake in Crucell, but is in advanced discussions about making an all cash public offer to take ownership of the outstanding shares. A&O is leading on the Dutch side for Crucell, with a team led by Amsterdam corporate and finance of counsel Johan Kleyn, while Clearly Gottlieb Steen & Hamilton is providing US law advice to the target company with a team led by New York M&A partner Daniel Sternberg.
2 minute read

International Edition

DLA Piper and Linklaters take roles on Banco Santander's Polish bank buyout

DLA Piper and Linklaters have lined up on Banco Santander's €2.9bn (£2.4bn) acquisition of a majority stake in Bank Zachodni WBK (BZWBK) from Allied Irish Banks (AIB). The acquisition sees DLA Piper advise Banco Santander as it acquires 70.36% of the Polish bank. The team includes City corporate partners Jon Hayes and Polly Owen, Warsaw corporate partner Patryk Laskorzynski and Madrid finance partner Javier Santos. Hayes said: "This is a high-profile transaction for both parties. In the last few years we have done an increasing number of M&A deals globally and see this line of work continuing to grow in emerging markets."
2 minute read

International Edition

Trio of firms lead on €350m first sale of Candover assets

A trio of firms have taken key roles on the first sale in the Candover wind down as Doughty Hanson completes the purchase of Equity Trust for €350m (£291m). The deal, announced last week (10 September), saw the London offices of two US firms take the lead corporate roles, with Skadden Arps Slate Meagher & Flom acting for the buyer while Kirkland & Ellis advised Candover. The sale also handed a role to Simmons & Simmons, which advised the management of Equity Trust with a team led by London corporate partners Richard May and Alan Karter.
2 minute read

International Edition

New rules of engagement for LatAm's corporate champions

If anyone continued to doubt Latin American M&A prowess, there was no need to look further than the recently-announced acquisition of the US fast food chain Burger King. Burger King's suitor? None other than 3G Capital, the private equity firm controlled by three of Brazil's savviest investors. Coming only weeks after Lan Airlines and Brazil's TAM announced their intention to combine, it is clear that Latin American dealmaking is now truly world class. As the global economy improves, the pace and size of its M&A deals will surely grow. Latin American dealmakers are quickly realising that international acquisitions present a range of issues that are more complex than those in domestic transactions. Legal advisers are counselling their clients that early identification of key issues is the hallmark of successful deals. A few topics are of critical importance in most cross-border acquisitions:
4 minute read

International Edition

Lawyers on alert as competition bodies issue joint M&A guidance for first time

The Competition Commission and the Office of Fair Trading (OFT) have published joint merger assessment guidelines for the first time, in a move which has intensified speculation that the two bodies could merge to form a single oversight body. The joint guidelines, which were published last week (16 September), have been created to provide greater clarity to companies and their advisers on how both bodies will assess the competitive impact of a merger. The guidelines revise and expand guidance previously issued separately by the two watchdogs, with partners at City firms praising the move as a "productive step forward".
3 minute read

International Edition

Reed Smith boosts Paris arm with Dentons hire

Reed Smith has grown its corporate arm in Paris with the hire of corporate head Emmanuel Vergnaud from Denton Wilde Sapte. Vergnaud is set to join the firm's Europe and Middle East corporate group from Dentons this month alongside corporate associate Mickaeal Levi.
2 minute read

International Edition

Slaughters acts for Liverpool FC as US owner targets debt refinancing

Slaughter and May has won a key role advising Liverpool Football Club as co-owner Tom Hicks attempts to secure backing to refinance the club's £237m debt with the Royal Bank of Scotland (RBS). Slaughters is advising the Liverpool FC board, fielding a team led by corporate partners Nigel Boardman and Mark Zerdin, alongside finance partner Stephen Powell.
2 minute read

International Edition

Debevoise boosts London arm with hire of Travers buyout partner

Wall Street leader Debevoise & Plimpton has boosted its City corporate practice with the hire of Travers Smith private equity partner David Innes. Innes, who has been a partner at Travers since 2000, specialises in private equity and M&A, and has worked on several high-profile transactions including Bridgepoint Capital's £955m sale of Pets at Home, the £6.15bn merger of Saga and AA, as well as 3i's acquisition of retailer Agent Provocateur.
2 minute read

International Edition

Hogan Lovells and Ropes & Gray head up $925m pharma sale

Hogan Lovells and Ropes & Gray have taken lead roles on Genzyme's $925m (£591m) sale of its genetic testing business, Genzyme Genetics, to Laboratory Corporation of America Holdings (LabCorp), reports The Am Law Daily. Hogan Lovells advised LabCorp, with M&A partner Michael Silver taking the lead role alongside partners John Booher, William Intner and Joseph Krauss. Longstanding Genzyme adviser Ropes & Gray advised the US company on the deal, with Boston M&A partner Chris Comeau leading the firm's team.
2 minute read

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